Share Market News Today | Sensex, Nifty, Share Prices Highlights: The domestic benchmarks NSE Nifty 50 and BSE Sensex closed in the positive territory on Monday. Nifty opened under the 18,600 level but after a volatile day of trade, managed to close just above the key level at 18,601. Sensex added 99 points to 62,725. The broader markets settled in the green, with Nifty Midcap 100 gaining 0.55% while Nifty Smallcap 100 added 0.87%. Volatility gauge, India VIX, soared 1.12% to 11.25. Sectorally, Bank Nifty settled under the 44,000 level, down 0.1%. Nifty IT, Nifty Media and Nifty Metal gained up to 1.51%, while the pharma, private bank and healthcare indices closed marginally in the red.
Live Updates 15:40 (IST) 12 Jun 2023 Domestic indices cautious
“The domestic indices are moving with caution as investors step up to a data-loaded week both in the domestic and global markets. However, the expectations are optimistic, like the Indian CPI data is forecasted to moderate and the Fed & BoJ are expected to maintain their policy rates. Other major events on the centre stage are domestic IIP, WPI inflation, and policy announcements from ECB. The market anticipates ECB to increase their rates further while recessionary risk is rising.”
– Vinod Nair, Head of Research, Geojit Financial Services
15:39 (IST) 12 Jun 2023 Markets at close
On Monday, both the NSE Nifty 50 and BSE Sensex concluded the trading session with gains. Nifty 50 closed slightly above the crucial level at 18,601. Sensex recorded a gain of 99 points, at 62,725.
14:48 (IST) 12 Jun 2023 Currency outlook
“Indian Rupee traded on a flat to positive note today on positive domestic markets and a weakness in US Dollar. Weak crude oil prices also supported Rupee. However, FII outflows capped sharp gains. U.S. Dollar declined on rising expectations of a pause in rate hike in June FOMC meeting. This has also led to positive sentiments in global markets.”
– Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas
14:36 (IST) 12 Jun 2023 Mutual Fund outlook – May
Among large-cap stocks, HDFC (Rs 28.9 billion), Mankind Pharma (Rs 15.3 billion) and Infosys (Rs 14.3 billion) saw big inflows by MFs, while outflows were the highest in HDFC Bank (- Rs 29 billion), Kotak Mahindra Bank (- Rs 28 billion) and Axis Bank (- Rs 14.3 billion).
14:34 (IST) 12 Jun 2023 Mutual Fund outlook – May
Mutual funds (MFs) were net buyers (Rs 29 billion) in May-23 in core equity schemes. This was the lowest recorded monthly flow of the year. Flows declined by 45% MoM.
13:44 (IST) 12 Jun 2023 CMS Info Systems rises 8%
Singapore-based Sion Investment Holdings, a part of the promoter group in CMS Info Systems, offloaded nearly 13.7% stake in the company through bulk deals on Friday. CMS Info Systems share price is up 8.3%.
13:04 (IST) 12 Jun 2023 Markets trade flat
Indices continued to trade flat in the afternoon session. Nifty traded higher by 33 points at 18,597, while Sensex gained 0.14% to 62,715.
12:32 (IST) 12 Jun 2023 IEX gains 3%
Despite hitting fresh 52 week lows in the past two sessions on reports of market coupling, IEX shares added up to 3.5% intraday, touching a day’s high of Rs 127 apiece.
12:22 (IST) 12 Jun 2023 Copper outlook
“Despite manufacturing challenges in China and other places, copper prices remained quite solid, bolstered by prospects for additional Chinese stimulus measures. However, China’s overall exports and declining imports suggested a tough global demand outlook. We expect copper to trade lower towards 719 levels, a break of which could prompt the price to move lower to 721 levels.”
– Saish Sandeep Sawant Dessai, Research Associate- Base Metals, Angel One
11:57 (IST) 12 Jun 2023 Suzlon soars 6%
Share price of Suzlon Energy gains 6% in trade on Monday to touch a fresh 52-week high of Rs 15.05 apiece on the NSE.
11:22 (IST) 12 Jun 2023 FII data
“FIIs increased their future index long position holdings by -8.29%, increased future index shorts by -0.20% and in index options by 31.72% in Call longs, 23.40% in Call short, 60.73% in Put longs and 11.86% in Put shorts.”
– Anand James, Chief Market Strategist, Geojit Financial Services.
10:53 (IST) 12 Jun 2023 Derivative outlook
“Nifty weekly contract has highest open interest at 18,700 for Calls and 18,700 for Puts while monthly contracts have highest open interest at 19,000 for Calls and 18,000 for Puts. Highest new OI addition was seen at 18,600 for Calls and 18,300 for Puts in weekly and at 18900 for Calls and 17,800 for Puts in monthly contracts.”
– Anand James, Chief Market Strategist, Geojit Financial Services.
10:22 (IST) 12 Jun 2023 Nifty can touch record highs
“Nifty has the potential to move to record highs. Autos have emerged as the best turnaround story this year. Apart from financials, capital goods, construction and telecom are on strong wicket. New age digital companies, which have staged a smart turnaround, are likely to remain resilient.”
– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
09:53 (IST) 12 Jun 2023 Mid- and small-cap can be risky
“An important feature of the current market trend is the outperformance of the mid- and small-cap indices which are up by 17% and 20% in the last 2 months. For individual investors, chasing mid and small- caps can turn out to be a risky game. Therefore, the best way for retail investors to play this trend is through SIPs in these categories.”
– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
09:35 (IST) 12 Jun 2023 Bank Nifty outlook
“Bias for Bank Nifty continues to remain positive. In case, there is any intraday
correction towards 44,000 levels then fresh long position can be created as 44,000 Put strike holds substantial open interest.”
– ICICIdirect
09:27 (IST) 12 Jun 2023 Intraday Picks – Reliance Securities
MARUTI (PREVIOUS CLOSE: 9628) – SELL
For today’s trade, short position can be initiated in the range of Rs 9,680- 9,720 for the target of Rs 9,500 with a strict stop loss of Rs 9,830.
ABCAPITAL (PREVIOUS CLOSE: 174) – BUY
For today’s trade, long position can be initiated in the range of Rs 170- 172 for the target of Rs 178 with a strict stop loss of Rs 169.
GUJGASLTD (PREVIOUS CLOSE: 479) – BUY
For today’s trade, long position can be initiated in the range of Rs 474- 477 for the target of Rs 485 with a strict stop loss of Rs 471.
09:25 (IST) 12 Jun 2023 Nifty Midcap 100
Nifty Midcap 100 gives up gains, falls 0.15% on profit-booking in early trade on Monday.
09:23 (IST) 12 Jun 2023 Nifty 50 gainers, losers
BPCL, Infosys, HCL Tech, JSW Steel, M&M are the top gainers on the Nifty 50 index while Divi’s Lab, ONGC, IndusInd Bank, Power Grid and UPL are the top losers, with Divi’s Lab falling 1.34%.
09:17 (IST) 12 Jun 2023 Markets on open
Domestic indices NSE Nifty 50 and BSE Sensex gained upon open on Monday. Nifty added 30 points to top the 18,600 level at 18,601.6, while Sensex gained 145 points to 62,771.
09:12 (IST) 12 Jun 2023 Markets at pre-open
Nifty 50 gained 31 points in the market pre-open session to settle at 18,595.05, while Sensex closed flat, higher by 0.05% at 62,659.
08:50 (IST) 12 Jun 2023 Nifty support, resistance levels
Support: 18,530 – 18,500 – 18,450Resistance: 18,600 – 18,700 – 18,777
– Riches Vanara, Technical and Derivatives Analyst, Stoxbox.
08:48 (IST) 12 Jun 2023 US Fed outcome to drive markets
“Fed-funds futures on Friday were pointing to a 71.2% probability that the central bank will announce at the conclusion of its two-day policy meeting on June 14 that it is pausing the interest-rate increases, according to the CME FedWatch Tool. Traders saw a 28.8% chance of a quarter-point rate hike by the Fed. Outcome of the US Fed meet on Wednesday evening could determine the trend of global markets in the near term.”
– Deepak Jasani, Head of Retail Research, HDFC Securities.
08:33 (IST) 12 Jun 2023 Rupee to remain sideways
“Volatility for the Indian Rupee could remain low in the first half of week, but in the latter half volatility could again be on the rise following the release of a major central bank policy statement. We expect the USDINR (Spot) to trade sideways and quote in the range of 82.20 and 83.05.”
– Gaurang Somaiya, FX and Bullion Analyst, Motilal Oswal Financial Services.
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08:24 (IST) 12 Jun 2023 Nifty 50 technical view
“Nifty faces an immediate hurdle in the zone of 18,810-18,750 ahead of the all-time pivotal resistance at 18,777. The resistance zone formerly marked exhaustion ahead of the prior declining trend from the ATH of 18,777 to 16,828.”
– Stoxbox
08:14 (IST) 12 Jun 2023 Nifty maintains positive structure
“Despite positive global cues, Indian equities are witnessing profit booking at higher levels and seem to be taking a pause after Nifty saw a run-up of ~7% over the last two months. However, the overall structure remains positive with Nifty gradually moving towards its previous lifetime high,” said Siddhartha Khemka, Head – Retail Research, MOFSL.
07:57 (IST) 12 Jun 2023 Currency outlook
“A busy week lies ahead with meetings from the Fed, ECB, and BoJ, as well as key data from the US on inflation and retail sales will be released. DXY continues to find major resistance at 104.40. Oil prices cooled off while eyes continue to remain on USDCNH pair. For USDINR, 82.35 acts as a support while 82.65 a resistance.”
– Kunal Sodhani, VP, Global Trading Center, Shinhan Bank.
07:56 (IST) 12 Jun 2023 May CPI, global cues in focus
“Market participants are now eagerly awaiting the release of domestic inflation data for May, which is anticipated to show a cooling down from the current level of 4.7%. Global cues will also play a significant role in shaping the market trend, with investors closely monitoring the outcomes of the FOMC meeting and the US inflation print.”
– Vinod Nair, Head of Research, Geojit Financial Services
07:34 (IST) 12 Jun 2023 Asian shares on Monday
Shares in the Asia-Pacific region were trading largely in the red, with a few outliers. China’s Shanghai Composite and Shenzhen Component declined 0.26% and 0.04% in trade respectively, while Japan’s Nikkei 225 jumped 0.75%. Hong Kong’s Hang Seng index fell 0.25% while South Korea’s Kospi sank 0.29%. The Taiwan Weighted index edged up 0.33%.
07:30 (IST) 12 Jun 2023 FPI buying
“Sustained buying by FPIs has lifted the Nifty by around 10% from the March lows and consequently, valuations, viewed from the short term perspective, have become challenging. Therefore, FPI are likely to slowdown in the coming days. They are likely to continue buying in financials and autos since the prospects of these sectors look promising.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
07:27 (IST) 12 Jun 2023 Wall Street on Friday
The S&P 500 rose by 0.11%, extending its four-week winning streak, the longest since July-August 2022. The Nasdaq Composite achieved its seventh straight week of gains, increasing by 0.16% daily and 0.13% weekly. The Dow Jones Industrial Average climbed 0.13%, resulting in a 0.33% weekly gain.
07:26 (IST) 12 Jun 2023 SGX Nifty in green
During Monday’s early trading session, the SGX Nifty saw a rise of 0.28% to 18,662. This suggested a favorable start for the domestic indices NSE Nifty 50 and BSE Sensex.